Saturday, Mar 22, 2008
House price crash gathering steam nicely
BBC: Mortgage criteria getting tighter
If things continue at this rate, soon there won't be any first time buyers left ...
Posted by mark wadsworth @ 10:00 PM (461 views) Add Comment
3 Comments
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1. japanese uncle said...
Bigger lenders, such as the Halifax and the Woolwich, have slightly increased the interest rates on certain tracker or fixed-rate deals, while making other deals available only to those able to put down a 40% deposit.
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Amusing to see my scenario is materializing at much faster pace than I expected myself. People 50% deposit will be the norm fairly soon, and then 60% probably.
Incidentally, job loss in the City is currently estimated at 20,000, which may well turn out to be unrealistically optimistic. Not in the distant future job loss will reach 50,000 as my gut feeling tells.
2. Supermike said...
I want to know why we don't see increased savings rates as a result.
All the ftb's who have saved hard seem not to be getting any benefit from the increase in rates that the banks are getting.
3. tyrellcorporation said...
I see a pattern developing where all the banks/building soc's are rebuilding their balance sheets by a system of inter IR decision rate rises and then pleading for IR decision cuts. None of these are being passed on and are being absorbed. This will continue for the foreseeable future as only these orgs know their true exposure to junk/toxic debt.